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Pre-open Outlook(09-08-2012)

Although US markets closed flat yesterday but most Asian markets are moderately strong today morning and Indian markets will firstly trade between 5330-5365 after positive opening.As GAAR news led selling possibility and Shooting Star(Gravestone Doji Bearish) Candle formation yesterday therefore view is cautious and until Nifty will not sustain above 5365 till then next up move will not be considered. Sustaining below 5330 will be short term correction confirmation.